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>> we have had 17 debt and deficit commissions since 1982 and listened to the experts every time. the national debt went from $1 trillion to $16 trillion. congress does not cut spending. they have been saying for a long time we need a balanced approach. the experts say we need a balanced approach. the so-called fiscal cliff is the most valid approach out of congress and now they don't want to do it. >> what happens if we do go over this cliff, aaron? our credit rating, what it means for those incentives and for the cuts that kick in automatically, what does this mean for us because it is not good by any means. >> see, it is a cliff -- >> you think it's a false deadline. >> i absolutely do. i think that suddenly markets will not crash, the bottom will not fall out. the world will not end. what will happen is that it will force members of congress to kick the can down the road to actually deal with those things. >> eric, thank you. many believe hitting the fiscal cliff will throw the country back into a recession. either way, we'll have eric erickson back after this plays out to see
>> we have had 17 debt and deficit commissions since 1982 and listened to the experts every time. the national debt went from $1 trillion to $16 trillion. congress does not cut spending. they have been saying for a long time we need a balanced approach. the experts say we need a balanced approach. the so-called fiscal cliff is the most valid approach out of congress and now they don't want to do it. >> what happens if we do go over this cliff, aaron? our credit rating, what it means...
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talking a whole lot about money, how to keep our economy growing, and, of course, how to reduce the deficit. on thursday we'll have all eyes on washington actually. talking about same-sex marriage. two very controversial changes in washington. same-sex marriage will become legal there, and we'll also, of course, they'll be legalizing pot. those over 21 can carry up to an ounce of pot starting on thursday in washington. on friday yet another jobs report. the november jobs report this time. 171,000 jobs were added, you may recall, in october, but experts think that maybe superstorm sandy might have slowed the growth this time around. we'll see if that really does have any affect on that jobs report coming out on friday morning. on saturday college football fans pay close attention here. the heisman trophy winner will be announced. we'll find out who the best player in college football really is. >>> who was the only sitting president married in the white house. if you know the answer, tweet me@randi kaye cnn. we'll have the answer after this quick break. [ abdul-rashid ] i've been working sin
talking a whole lot about money, how to keep our economy growing, and, of course, how to reduce the deficit. on thursday we'll have all eyes on washington actually. talking about same-sex marriage. two very controversial changes in washington. same-sex marriage will become legal there, and we'll also, of course, they'll be legalizing pot. those over 21 can carry up to an ounce of pot starting on thursday in washington. on friday yet another jobs report. the november jobs report this time....
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Dec 3, 2012
12/12
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based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year. >> he will not sign a bill that extends those tax rates for the top 2 percent. we cannot afford it. it is not wise economic policy. not wise fiscal policy. it would defeat the principle of balance that he has embraced. >> the president wrapped up an hour long twitter session promoting what he called a balanced approach, as far as deficit reduction. >>shepard: is this posturing? >>reporter: well, it is, this great measure. each side wants to blame the other. and not just if we go over the cliff, but if they do reach an agreement, each side wants the other to take the blame for the parts of the ultimate compromise their constituents don't like. right now the negotiations are nowhere, and the white house has not put a serious offer on the
based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it to the new year. >> he will not sign a bill that extends those tax rates for the top 2 percent. we cannot afford it. it is not wise economic policy. not...
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they want to agree if they can bring down the deficit in terms of bringing more taxes in terms of revenue or cutting spending. and the third leg of that is something we don't know. how can we make the economy grow, if the economy grows faster, then we don't need to cut as much and we don't need as much revenue. the growth of the economy is in a way the fuzziest of all these things, because you don't know how fast, you can have estimates, you do have, the birth in the hand is you know you can bring in more revenue if you raise taxes on the wealthiest americans. you know you can save money if you cut entitlements. the question is how far do we want to go down the road of solving the problem. some people may say, we don't have to get all the way, as long as we make progress and we show to americans that you guys are in good hands with us, because at least we're going in the right direction, right now we can't even say that. >> right, so really that's what the wild card is, and what's so interesting, is you know, all of these things have a price tag. you raise taxes on the top 2%. you get x b
they want to agree if they can bring down the deficit in terms of bringing more taxes in terms of revenue or cutting spending. and the third leg of that is something we don't know. how can we make the economy grow, if the economy grows faster, then we don't need to cut as much and we don't need as much revenue. the growth of the economy is in a way the fuzziest of all these things, because you don't know how fast, you can have estimates, you do have, the birth in the hand is you know you can...
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Dec 4, 2012
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it isn't even dealing with the deficit problem that needs to be dealt with. as long as they are engaging, something is going to move here. >> molly, the priorities in these plans couldn't be more different with republicans getting almost everything through cuts. how could the white house begin to accept this at any level. are we headed for the cliff? >> the white house doesn't seem to be accepting it. the reaction from the other side seems to be, okay, this is a good start, but let's see something real. you can see, i think, the box that republicans have painted themselves into. i think this offer is sort of a recognition of how little leverage they have. they were being hurt by this perception that they weren't offering specifics and coming to the table. they offered something. it's going to make some conservatives scream with the tax hikes in it, but it's also not seeming to get any traction with democrats who are saying it's not specific enough and doesn't go far enough because it doesn't raise those rates. >> what about the report from abc news? what abou
it isn't even dealing with the deficit problem that needs to be dealt with. as long as they are engaging, something is going to move here. >> molly, the priorities in these plans couldn't be more different with republicans getting almost everything through cuts. how could the white house begin to accept this at any level. are we headed for the cliff? >> the white house doesn't seem to be accepting it. the reaction from the other side seems to be, okay, this is a good start, but...
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colts cut the deficit to five. four seconds left. colts still down five. fourth and ten from the 14 yard line. this is the last play of the game. here's iron eagle with the call. >> here we go. final seconds. luck steps, luck, a little flick, donnie avery, he's in! touchdown! indianapolis has done it! >> peyton who? the lions in absolute shock on the sidelines as time expires. luck throws two touchdowns in the final 2 1/2 minutes to get his team the 35-33 win. colt s improve to 8-4. nobody thought that would happen. just the latest letdown for the lions who lose their third straight. they had the lead in all of those games. >>> the jets hosting the cardinals, what a matchup. mark sanchez desperate for a decent performance. first offensive play of the game. sanchez, off the play fake. i think 101, barnicle, is that when you're in trouble, don't throw a high ball over the middle. kerry rhodes coming down with the easy interception. would only get worse for sanchez. he'd throw two more picks before halftime. in the third quarter, rex ryan had finally seen eno
colts cut the deficit to five. four seconds left. colts still down five. fourth and ten from the 14 yard line. this is the last play of the game. here's iron eagle with the call. >> here we go. final seconds. luck steps, luck, a little flick, donnie avery, he's in! touchdown! indianapolis has done it! >> peyton who? the lions in absolute shock on the sidelines as time expires. luck throws two touchdowns in the final 2 1/2 minutes to get his team the 35-33 win. colt s improve to 8-4....
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Dec 4, 2012
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bill clinton increased taxes from 35 to 39%, started with a $300 billion deficit. ended with a trillion dollar surplus. all of you and i think you on television predictedicted thered be a recession. 23 million jobs later, there was no recession. >> lanny, if what you say is true, that the clinton tax cuts did it, why doesn't barack obama say let's have back all of the clinton tax hikes? let's have back all of the clinton tax increases object on everybody and we'll have a boom because he knows in his heart what he knew in 2010. you raise taxes on everybody, and a weak economy like we've got and you will send it into the dumpster. that's what he's threatening to do. >> that's a fair point. that's the reason it's a weak economy. when bill clinton raised taes and ended up with a surplus, conservatives like yourself loved the fact we had a surplus underather than under the last o administrations. we now have a $16 trillion national debt. >> one question, lanny. under bill clinton, they cut defense spending from reagan 6% of gdp to 3%. cut it in half as a percentage of t
bill clinton increased taxes from 35 to 39%, started with a $300 billion deficit. ended with a trillion dollar surplus. all of you and i think you on television predictedicted thered be a recession. 23 million jobs later, there was no recession. >> lanny, if what you say is true, that the clinton tax cuts did it, why doesn't barack obama say let's have back all of the clinton tax hikes? let's have back all of the clinton tax increases object on everybody and we'll have a boom because he...
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we need to get serious about our deficit and debt that are burying our children's future. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. martha: we have brand-new details on the deadly bus crash that happened in florida. police say the bus driver was confused and lost when he chose the wrong route coming out of miami airport. the top of the bus crumpled after the crash and killed two passengers. it had 32 jehovah's church members on board, they were heading to a conference. bill: if you wash watching "fox news sunday" john boehner described his reaction when the president presented its plan for the fiscal cliff. > >> i said you can't be serious. we have 7 weeks went election and the end of the year and three those weeks have been wasted. bill: flabbergasted, rich. wasting time. three weeks gone b
we need to get serious about our deficit and debt that are burying our children's future. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. martha: we have brand-new details on the deadly bus crash that...
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Dec 3, 2012
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what do we do next to deal with the deficit? the president and tim geithner basically this weekend said we've got plans to cut entitlements by 400 bill or ion 500 billion dollars. that's over ten years. we have a much bigger hole than i think anyone in washington is willing to agree is such a problem. >> lrepublicans are angry the president laid out this plan that they say he knew would just inflame them. >> that's true. >> why toedon't republicans act like big boys and girls and present their own plan about how they specifically want to cut entitlements? isn't that how you negotiate? >> yes, but, of course, they've done that. that's the most curious thing to me. tim geithner said the republicans should come forward with a plan. you know this. over the last two or three years in the house of representatives controlled by republicans, they have passed what's called the ryan budget for three years in a row. it has very substantial entitlement cuts. you've reported on this on cnn. in fact, all the left wing groups had all these ads
what do we do next to deal with the deficit? the president and tim geithner basically this weekend said we've got plans to cut entitlements by 400 bill or ion 500 billion dollars. that's over ten years. we have a much bigger hole than i think anyone in washington is willing to agree is such a problem. >> lrepublicans are angry the president laid out this plan that they say he knew would just inflame them. >> that's true. >> why toedon't republicans act like big boys and girls...
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Nov 29, 2012
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to do serious long-term debt and deficit reduction you have to do entitlement reform. what this president is feeling is the popular sensibility is polls show the majority of americans don't even want to raise the age on medicare from 65 to 67 and they are using that so they don't have to do serious reform but you cannot control the debt or the deficit without serious in title and reform. medicare is going to come crashing down unless you do something period. dick durbin knows that. the liberal democratic senators signed off on the simpson-bowles proposal but right now he is saying i don't want to do that as part of the fiscal cliff solution. let's take off until next year. dennis: thank you for being with us. cheryl: fiscal cliff survival kit. today it is your home addition. new talk but washington made do away with the tax break for home mortgage deduction or change the calculation and hit high income earners. the managing partner of mortgage banking solutions joins me from austin, texas with his fiscal cliff survival tips. thank you for being with us on our series th
to do serious long-term debt and deficit reduction you have to do entitlement reform. what this president is feeling is the popular sensibility is polls show the majority of americans don't even want to raise the age on medicare from 65 to 67 and they are using that so they don't have to do serious reform but you cannot control the debt or the deficit without serious in title and reform. medicare is going to come crashing down unless you do something period. dick durbin knows that. the liberal...
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Dec 2, 2012
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we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases right away. >> yeah. >> can i ask you, though, how can you guarantee e that all the extra tax hikes and provisions actually go towards paying the national debt and not more spending and more programs? >> you can't guarantee that but you have a conservative republican congress. they are not going to vote for any spending increase. why not take advantage of that and make the initial cuts and let them go into a stalemate for awhile. that's a pretty big amount. my sges that provides the certainty. we go back to the clinton tax rates. and we make sig
we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases...
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Dec 6, 2012
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or ten-year deficit projections, something like 70 billion off 1.14 trillion deficit. it won't make a big dent. why is he so dedicated to it? that being said, carol, despite the fact that it sends me a little off kilter, yes, republicans lost the election. they don't have a ton of leverage. they want to try to achieve a deal that they think is going to maximize potential good for the country, meaning spending reform, budget deficit reduction, but the truth is that they don't have a ton of leverage in forcing president obama to take a look at medicare and social security to bring this conversation full circle that really mean serious budget and deficit reform. >> well, i'm sure that the majority of americans are hoping the two sides will come to some sort of deal. wouldn't that be nice? that would be a nice christmas present. will cain, thank you. >> yeah, you bet. >> thanks so much. >>> one of the top u.s. banks out with a pretty rosie prediction for next year. could it be enough to save your 401(k) from that fiscal cliff? ...so as you can see, geico's customer satisfa
or ten-year deficit projections, something like 70 billion off 1.14 trillion deficit. it won't make a big dent. why is he so dedicated to it? that being said, carol, despite the fact that it sends me a little off kilter, yes, republicans lost the election. they don't have a ton of leverage. they want to try to achieve a deal that they think is going to maximize potential good for the country, meaning spending reform, budget deficit reduction, but the truth is that they don't have a ton of...
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Dec 3, 2012
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it wasn't a secret he thought we should have a balanced approach to look at the deficit and higher income individuals need to pay more. if we don't ask, everybody else is hit harder. the president is coming off a victory, and it's very clear that on this specific issue the overwhelming majority of the american people support him. so that's a big difference. as we come to the end of this fiscal cliff, republicans have to choose. do they call for $5 trillion in tax increases over the next ten years or are they going to allow the middle class tax cuts to proceed? that's their choice, and i think people like tom cole recognize that it's unsustainable to take the position that nobody gets tax relief because they hold out for folks with 250,000 and over to get this extra tax cut on the portion of their income above 250,000. after all, what the president is saying on that part of your income above 250,000, you're going back to the clinton era tax raites, which is 4 cents on the dollar. >> congressman van hollen, thank you for your time. we'll see what happens next. thank you, sir. >>> we could s
it wasn't a secret he thought we should have a balanced approach to look at the deficit and higher income individuals need to pay more. if we don't ask, everybody else is hit harder. the president is coming off a victory, and it's very clear that on this specific issue the overwhelming majority of the american people support him. so that's a big difference. as we come to the end of this fiscal cliff, republicans have to choose. do they call for $5 trillion in tax increases over the next ten...
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Dec 6, 2012
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this isn't about the deficit for them or balance. it's about an ideological campaign that most americans thought would have ended on november 6, and that's also why the president sent secretary geithner up here last week with a proposal so completely ridiculous it wouldn't have passed the house, as i indicated earlier, if nancy pelosi were still speaker. it was more of a provocation than a proposal, to be perfectly frank about it. it was a message that the president doesn't want to deal at all. to date not a single democrat has come forward to support the geithner proposal, and anybody who actually looks at the details would certainly understand why. as i just indicated, it includes a $2 trillion tax increase over ten years, the biggest real-dollar tax increase in u.s. history. it increases taxes on nearly one million small businesses in the middle of a jobs crisis. according to ernst & young, this type of rate hike would cause more than 700,000 americans to lose their jobs. it raises taxes on investment income, harming economic grow
this isn't about the deficit for them or balance. it's about an ideological campaign that most americans thought would have ended on november 6, and that's also why the president sent secretary geithner up here last week with a proposal so completely ridiculous it wouldn't have passed the house, as i indicated earlier, if nancy pelosi were still speaker. it was more of a provocation than a proposal, to be perfectly frank about it. it was a message that the president doesn't want to deal at all....
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current climate that we're in of overspending and simply not having enough revenue and increasing our deficit is just not a tenable plan for the future, especially as regards to our future employment prospective. but i think with younger voters and with all voters, nationwide and polls showed the core conservative issues of cutting spending and limited government still reigned, which is promising for our future. it was that cares about me question that got us. more than 80% of respondents felt the republican party was something -- a party that did not care about them. so i think going into the future and especially speaking to those communities and demographics that were not supportive of the republican party this time around, it will be important for us as college republicans to make sure we got that message out to those communities in a way that shows that the republican party cares about the future of the entire country by making us a more sustainable place to live. >> rick: meghan, how do you do that? how does the republican party reach out and say, we care about you to the immigrant comm
current climate that we're in of overspending and simply not having enough revenue and increasing our deficit is just not a tenable plan for the future, especially as regards to our future employment prospective. but i think with younger voters and with all voters, nationwide and polls showed the core conservative issues of cutting spending and limited government still reigned, which is promising for our future. it was that cares about me question that got us. more than 80% of respondents felt...
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Dec 5, 2012
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now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is on the tax revenues. you can tax every millionaire 100% and run the government for two or three months. this is a spending driven crisis and it has to be solved on the spending side. until the president gets serious about it, i'm not sure what there is to talk about, soledad. >> i'm not sure that the only conversations have just been on the tax side. i actually think there have been conversations on both. at this moment, right, we're going over or toward the fiscal cliff. if you do nothing, all of our taxes are going up. why not, as a first move, say, listen, nobody at this point wants to raise taxes on the middle class and people who are lower income. so let's do some kind of a deal now and that will keep us from going over the fiscal cliff. then let the tax cuts expire for the wealthy january 1st. it happens. then you can do some kind of negotiation. and that keeps us from going over the fiscal cliff. it's going to ha
now we know deficits are running $1 to $1.5 trillion. what's changed is on the spending side yet all this discussion is on the tax revenues. you can tax every millionaire 100% and run the government for two or three months. this is a spending driven crisis and it has to be solved on the spending side. until the president gets serious about it, i'm not sure what there is to talk about, soledad. >> i'm not sure that the only conversations have just been on the tax side. i actually think...
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bub it is not part -- but it's not part of the current deficit issue at all. separate issue. you may call it premium the medicare program and tosses it over to the private health insurance companies. i have worked with the private health insurance companies for a long, long -- >> it's not true. >> sorry, it does happen to be what the premium support is all about. you are supporting the premium for private health insurance companies. call it vouch every or premium support. in either case it terminates the medicare as we know it. that is a problem for seniors. >> we are leaving on many point of disagreement, not agreement. we know you have a lot of work to do on the hill. we thank you for taking time out for us today. we wish you beth to find abcompromise. >> thank you. >> thank you, shannon. >> this is a fox news alert. nine militants and at least five afghans are reportedly dead after a fire fight at an air base in american afghanistan that lasted more than two hours. officials say two suicide bombers detonated explosives outside the base that helicopters fired on them. they
bub it is not part -- but it's not part of the current deficit issue at all. separate issue. you may call it premium the medicare program and tosses it over to the private health insurance companies. i have worked with the private health insurance companies for a long, long -- >> it's not true. >> sorry, it does happen to be what the premium support is all about. you are supporting the premium for private health insurance companies. call it vouch every or premium support. in either...
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how are you going to bring down a trillion dollar deficit? i think the democrats are on -- i had to get that off my chest. stuart: gm car and truck sales are up 3%. the stock, dead flat. sales up 3%. that is the car sales numbers coming in today. steve, i want to get back to you here. the democrats say, wait a second, wait a second, you raise taxes on the rich just like the clinton did back in 1992 and you end up with a bill. you have a solid expansion. what do you make up with that argument? >> i hope they do not believe that argument. look, maybe barack obama is right. maybe if you raise these taxes, it will not hurt the economy. [talking over each other] stuart: bill clinton raised taxes and the economy took off. >> there are a lot of things that influence the economy. not just taxes. there are other things. there is no monetary policy, which was great under bill clinton. do not forget that bill clinton did welfare reform. one of the most historic acts over the last 50 years. do not forget that we caught government spending within those ye
how are you going to bring down a trillion dollar deficit? i think the democrats are on -- i had to get that off my chest. stuart: gm car and truck sales are up 3%. the stock, dead flat. sales up 3%. that is the car sales numbers coming in today. steve, i want to get back to you here. the democrats say, wait a second, wait a second, you raise taxes on the rich just like the clinton did back in 1992 and you end up with a bill. you have a solid expansion. what do you make up with that argument?...
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Nov 30, 2012
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two summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. put it another way. if there was an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to protect ourselves from asteroids. >> see, that's one way of looking at it. yes. >>> halle berry's thanksgiving day drama seems to be winding down. progress has been made regarding the holiday fistfight between hallry berry's ex-boyfriend, gabriel aubry, and her current fiance. in a statement, berry's lawyer said she and aubrey have reached an amicable agreement. berry had a restraining order put into effect after that fight to keep aubrey from seeing their 4-year-old daughter. >>> so lindsay lohan, she's done it again, arrested thursday for allegedly punching a woman in the face in a new york ci
two summers ago, congress realized that if they couldn't compromise on a deficit and revenue plan, our economy would crash. turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise, they concocted a catastrophic penalty that would itself crash our economy. put it another way. if there was an asteroid headed towards the earth, we made it and fired it at ourselves. because otherwise we would never have done the hard work required to...
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Nov 29, 2012
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howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said that, my own view is, that going over the fiscal cliff is only the second worst thing that can happen. the worst thing that can happen would be for congress to simply kick the can down the road on everything. >> that's exactly right. >> extend all the taxes, extend all the spending, let life go merrily on the way it is. we cannot let that happen. it is time to address the deficit. and if going over the
howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where...
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Dec 2, 2012
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president proposing for tackling the real economic challenge we have here, the real driver of budget deficits, the real threat to american economics, superiority in this world, out of control-- the president of the united states, the president for four yea years, no credible plan for tackling that spending. >> dave: there's been nothing put on paper when it comes to entitlements from the president one thing he's been afraid to do. now he's been reelected don't be afraid to face the voters. tack tackle entitlement and changes to survive. >> alisyn: isn't that the beauty of the second term. incumbency you're no longer bo ho holden to anyone. >> and that 1.6 trillion dollar. before 800 billion and now it's 1.6 trillion. maybe that's the second term speaking. >> alisyn: let's talk about what's going on with the christmas tree. as you know, it's christmas season and that means that there will be incidents where the p.c. police are out in force, checking and calling your tree, a holiday tree or a christmas tree and this has. this is brewing in massachusetts because the mayor of a small town, well,
president proposing for tackling the real economic challenge we have here, the real driver of budget deficits, the real threat to american economics, superiority in this world, out of control-- the president of the united states, the president for four yea years, no credible plan for tackling that spending. >> dave: there's been nothing put on paper when it comes to entitlements from the president one thing he's been afraid to do. now he's been reelected don't be afraid to face the...
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rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> the president has put forward in september of 2011 with his proposal to the so-called super committee and his budget of february of 2011 very specific spending cuts, including savings from health care entitlement programs. >> so one of the issues is, when you talk specifics and they become part of the public conversation, it's very easy for those things to get derailed in the time available where all the sides sort of clamber and attack some of the specifics. both parties have an interest in keeping some of this close to the vest. what we're hearing from senate democrats today is they believe that the election suggests that the public really wants those higher rates for the higher earners in terms of taxes. senator reid and other democrats don't want to talk about specific cuts or entitlement reforms publicly. everyone saying they don't want to negotiate from the podium. but everyone is aware it's the end of november. there isn't a lot of time left. and how quickly and how peacefu
rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. >> the president has put forward in september of 2011 with his proposal to the so-called super committee and his budget of february of 2011 very specific spending cuts, including savings from health care entitlement programs. >> so one of the issues is, when you talk specifics and they become part of the public conversation, it's very easy for those things to get derailed in...
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we also have a looming budget deficit. so you don't have to really be a rocket scientist to understand that the rich do have to pay more. taxes do have to be raised on the rich and i think that's why over 60% of the public in these polls are not only supportive of a tax increase on the rich, but also will blame the republicans if we go over the fiscal cliff. and this gives frankly, this gives the white house and this gives the obama administration much more bargaining leverage. >> grover norquist, here's the problem, it seems to me. again, as long as the posturing goes on with fairly ridiculous offers on both sides and lots of political rhetoric along the lines of well, they're not giving an inch, we're going backwards, you can't really go backwards from a position of complete standstill, as far as i'm concerned. as this goes on, the american economy stalls, wall street's nervous, the consumers that should be out there now buying lots of christmas presents and boosting the economy will be reticent because they'll be thinki
we also have a looming budget deficit. so you don't have to really be a rocket scientist to understand that the rich do have to pay more. taxes do have to be raised on the rich and i think that's why over 60% of the public in these polls are not only supportive of a tax increase on the rich, but also will blame the republicans if we go over the fiscal cliff. and this gives frankly, this gives the white house and this gives the obama administration much more bargaining leverage. >> grover...
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Dec 3, 2012
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want to get rid of the budget deficit. certainly, opinions differ. they can be a managing part of the deficit. >> do they play a role in negotiations and talks? there is a group advocating for every one of these deductions that people are used to getting. could they end up on the chopping block? >> definitely. >> there is also a link to see more at our website for the gop proposal. we are going live to the house. a requirement that financial restitution set of privacy notices. for what purpose does the gentlewoman rise? >> i move to suspend the rules and pass the bill h.r. 5817. the speaker pro tempore: the clerk will report the title of the bill. caller: h.r. 5817, to provide an exception to the annual privacy notice requirement. the speaker pro tempore: pursuant to the rule, the gentlewoman from west virginia, mrs. capito, and the gentleman from california, mr. sherman, each will control 20 minutes. the chair rebling nices the gentlewoman from west virginia. mrs. capito: thank you. i ask that all members have five legisl
want to get rid of the budget deficit. certainly, opinions differ. they can be a managing part of the deficit. >> do they play a role in negotiations and talks? there is a group advocating for every one of these deductions that people are used to getting. could they end up on the chopping block? >> definitely. >> there is also a link to see more at our website for the gop proposal. we are going live to the house. a requirement that financial restitution set of privacy notices....
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it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... those surprising little still make you take notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready anytime the moment's right. you can be
it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500...
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when you look at the debt and deficits he run up. he run up more debt than all of the other presidents combined and maybe the republicans should let the president go ahead and sail off of the cliff and do it for the next generation. keep in mind, somebody may have to pay the bill it may be our children and our children's children. do we want to leave the country in better shape. >> gretchen: they will not have enough pennies in the piggy bank. moments ago kate middleton and prince william left the hospital. she was admitted on monday after suffering from acute morning sickness. kate was treated by the queens doctors. she is headed to kensington palace where she will rest for a extended time. the rogue nation of syria has begun mixing chemical weapons and loading them in to bombs. it is raising fears that president assad will use them on his own people. >> if he would drop the gas, it would kill 100,000 people immediately and in damascus a million people could be affected. it is very serious. >> gretchen: fox news learns that the mili
when you look at the debt and deficits he run up. he run up more debt than all of the other presidents combined and maybe the republicans should let the president go ahead and sail off of the cliff and do it for the next generation. keep in mind, somebody may have to pay the bill it may be our children and our children's children. do we want to leave the country in better shape. >> gretchen: they will not have enough pennies in the piggy bank. moments ago kate middleton and prince william...
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it is not part of the american deficit. it's an issue that over the years has come back before the american public. the congresses in the past have dealt with it, extended the viability of social security for years and years, and this congress does not need to deal with this problem this year or even next year, the 113th congress. down the road it must be dealt with and there are numerous ways it can be, but to bring social security into the deficit debate is only to cloud this debate and to make it far more difficult for us to find a solution. now, my democratic colleagues and i and the president have made it very clear, we understand the necessity of solving this problem. we are willing to compromise. and the president has put on the table a very complex, detailed program about how we can deal with the deficit, both in the short term and the years ahead. and we need to proceed with that, unfortunately it was just simply dismissed and a new, actually a rebaked, redone, rehashed proposal put on the table by our republican c
it is not part of the american deficit. it's an issue that over the years has come back before the american public. the congresses in the past have dealt with it, extended the viability of social security for years and years, and this congress does not need to deal with this problem this year or even next year, the 113th congress. down the road it must be dealt with and there are numerous ways it can be, but to bring social security into the deficit debate is only to cloud this debate and to...
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talking, of course, about money, how to keep our economy growing, and of course hopefully reduce the deficit as well. very busy day there at the white house. on thursday, we have all our eyes on washington. two controversial changes in washington state, same-sex marriage becomes legal on thursday in washington state. we'll also be looking at marijuana. adults over 21 can legally carry up to an ounce of pot, sort of. the federal government still says pot is an illegal drug. that's how they're going to do it in washington on thursday. and on friday, we'll be watching for the jobs report. this is the november jobs report. in october, 171,000 jobs were add a added, you may recall. experts think superstorm sandy could affect this. a lot of people having a hard time getting around, power is out. really put a lot of folks behind. we'll see how that goes. on saturday, a big day for college football fans. heisman trophy winner will be announced. we'll find out who the best player in college football is. last year, can you remember who it is? nfl star robert griffin iii won the heisman. that's your we
talking, of course, about money, how to keep our economy growing, and of course hopefully reduce the deficit as well. very busy day there at the white house. on thursday, we have all our eyes on washington. two controversial changes in washington state, same-sex marriage becomes legal on thursday in washington state. we'll also be looking at marijuana. adults over 21 can legally carry up to an ounce of pot, sort of. the federal government still says pot is an illegal drug. that's how they're...
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even if you accept that larger number, the deficit is $1.5 trillion so, even if the republicans raise the you are giving $90 billion. where are you going to get the rest of it? it will have to come from entitlement reform and meaning spending cuts. >> it's coming from loopholes. i think we can. >> he criticized governor romney's plan based on the premise there is not enough revenue in the loop homes. he has agreed to the flame work, revenues or the table. we will give you $800 billion. that is great starting point. president has insulted republicans who are going out on the limb by wanting to be more pragmatic about this by coming to the congress which even among the most liberal writers in it is not a serious proposal. the reality it has to be some point spending becomes the conversation, not revenue. >> we have given quite a bit up. we have given up $2.5 trillion. >> you gave up 2.5 in budget gimmicks. things that were going to end anyway. >> boehner and cantor do not want to tax the wealthy donors. that is what it comes down to. are we going to balance this budget? it's the engine
even if you accept that larger number, the deficit is $1.5 trillion so, even if the republicans raise the you are giving $90 billion. where are you going to get the rest of it? it will have to come from entitlement reform and meaning spending cuts. >> it's coming from loopholes. i think we can. >> he criticized governor romney's plan based on the premise there is not enough revenue in the loop homes. he has agreed to the flame work, revenues or the table. we will give you $800...
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it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired. and republicans have been pushing back on that -- tax breaks rather for the wealthy expired and republicans have been pushing back on that, say they go believe that will be harmful for the economic recovery because wealthy americans are the ones who are creating the
it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not...
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so it calls for $2.2 trillion in deficit savings, this is over the next decade. including $800 billion from tax reforms. $600 billion from medicare reforms. and $600 billion in spending cuts. but the white house quickly said, no way, because the deal doesn't contain tax hikes for the wealthiest americans. brianna keilar live from washington this morning. and brianna, are we beyond political posturing to the point where we have reached a stalemate? >> there is a lot of posturing going on and there is an impasse, obviously. at this point you have the white house saying they're not going to discuss specifics on entitlement reform with house republicans until they capitulate on increasing the income tax rates for wealthy americans. so there is an impasse but there's a lot of posturing. the offer of the white house details of which came out last week, and now this counteroffer from house republicans out yesterday. so i think the policy prescriptions here are pretty clear on what has to be done, although both sides are very far apart. if you just listen to what's going
so it calls for $2.2 trillion in deficit savings, this is over the next decade. including $800 billion from tax reforms. $600 billion from medicare reforms. and $600 billion in spending cuts. but the white house quickly said, no way, because the deal doesn't contain tax hikes for the wealthiest americans. brianna keilar live from washington this morning. and brianna, are we beyond political posturing to the point where we have reached a stalemate? >> there is a lot of posturing going on...
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frightening deficits. and mr. speaker, those deficits are barely noticeable compared to where we are today. largest budget deficits in american history during the bush years. deficits so large they were threatening our economy and president bush began to bring them down during the last four years of his tenure. and they're dwarfed by the size of the deficits created by this u.s. house of representatives under democratic control, the united states senate under democratic control and president barack obama and the white house. mr. speaker, those numbers have combn to come down. you can see here over the last four years, we had $1.5 trillion deficit. in 2009 1.34 trillion, $1.1 in travel twelve. look out over this 10-year horizon. again, these numbers come from the congressional budget office which is a nonpartisan group on clip. this comes from the office of management and budget which is the president's team down at the white house. if we do nothing to curtail spending, the largest deficits ever known to this land
frightening deficits. and mr. speaker, those deficits are barely noticeable compared to where we are today. largest budget deficits in american history during the bush years. deficits so large they were threatening our economy and president bush began to bring them down during the last four years of his tenure. and they're dwarfed by the size of the deficits created by this u.s. house of representatives under democratic control, the united states senate under democratic control and president...
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we are living with a $16 trillion deficit. so the republicans are going to have to compromise. democrats, white house, they have to come to a mutual agreement where an increase in taxes, a decrease in the amount of benefits that people receive, we need a real major compromise. we hope to god they do that zbleeh. >> heather: will they do it or not do. >> heather: will they do it? >> they no compromise. 50% chance they come to compromise that kicks the football into next year where the new congress will run with it. and possibly, 20% chance that nothing at all happens. we do think they will come up with some kind of temporary solution getting us through december 31. >> heather: we'll see what happens. >> gregg: hottest guessing game in washington. who will fill the critical jobs in the next cabinet. >> and obama administration speaking out plans for israel building new settlements. what it means for the rocky road towards peace. atural gas producs to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring
we are living with a $16 trillion deficit. so the republicans are going to have to compromise. democrats, white house, they have to come to a mutual agreement where an increase in taxes, a decrease in the amount of benefits that people receive, we need a real major compromise. we hope to god they do that zbleeh. >> heather: will they do it or not do. >> heather: will they do it? >> they no compromise. 50% chance they come to compromise that kicks the football into next year...
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deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to end is these poor people will be so instrumental in getting us out of this mess that we have to get them back to work. >> we only wish we were winding up. >> senators, thank you, congressman, thank you. >> we will continue to examine the so-called fiscal cliff with armstrong williams. we will also be joined by sam goldfarb. live on c-span every day at 7:00 eastern. over the next hour and a half, some of yesterday's events involving the fiscal cliff. first, house leaders discuss how continuing negotiations may affect the schedule. in half of an hour, senate leaders comment on the fiscal cliff. after that, house speaker john boehner and minority leader nancy pelo
deficit to gdp? >> did i say that? >> just to be clear -- if you look to the 10-year period on the current base line and get under 1% deficit to gdp in 10 years -- >> because you get seven years of debt reduction under current law. >> if anyone wants to read more, please read the piece on what it takes. i thank you all for being here today. one reason we have to end is these poor people will be so instrumental in getting us out of this mess that we have to get them back...
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you're not going to -- >> i'm also a deficit hawk, joe. >> you are a deficit hawk. and, howard, i know obama won the election, but in this country you need the house to vote on something to make it law, and if they just say no the 39.6 on the high end, if you just let -- go over the cliff, it's going to 39.6. there would be in discussing it. it's going there. >> let's be fair about this. i mean, what i'm proposing is not -- neither the republicans nor the democrats like. because not only does it go to 39.6 on the wealthy which i support, but it also goes back to what people were paying when bill clinton was president for the middle-class and the truth of the matter is no matter what people said in the election, you cannot solve this deficit problem without everybody paying more taxes not just rich people. >> you can go to 100% and not 39.6. you'd like to in a perfect world, i know you, you would like to go to 100%. but you're not going to be able to do that. >> only on television personality. >> you go from raising, like, $80 billion a year which on a trillion dolla
you're not going to -- >> i'm also a deficit hawk, joe. >> you are a deficit hawk. and, howard, i know obama won the election, but in this country you need the house to vote on something to make it law, and if they just say no the 39.6 on the high end, if you just let -- go over the cliff, it's going to 39.6. there would be in discussing it. it's going there. >> let's be fair about this. i mean, what i'm proposing is not -- neither the republicans nor the democrats like....
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not a driver of the deficit but, hey, cut that. one more specific. preserve the bush-era tax rates for income over $250,000. it's not a tax increase for everybody who earns over $250,000. it's only the income over $250,000 that would get additional taxes if the bush-era rates went away and the president's proposal was passed. but, no, they want to preserve -- totally preserve tax cuts for income over $250,000. they want to preserve the reduced capital gains rate and dividends rate which principally who ben pets, who else, millionaires and billionaires. now -- benefits, who else, millionaires and billionaires. they did have the jay wellington wimpy plan. you remember him? popeye. i will pay you for a hamburger today. unspecified tax loopholes. we will lower the tax rates for the people on the top. but they'll raise over $800 billion. the ability to deduct the interest on their home mortgage, do they want to take that away? probably. got to come from something pretty big. they don't want to touch the billionaire, millionaire job creator class. now, you
not a driver of the deficit but, hey, cut that. one more specific. preserve the bush-era tax rates for income over $250,000. it's not a tax increase for everybody who earns over $250,000. it's only the income over $250,000 that would get additional taxes if the bush-era rates went away and the president's proposal was passed. but, no, they want to preserve -- totally preserve tax cuts for income over $250,000. they want to preserve the reduced capital gains rate and dividends rate which...
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this will congressman goes back to 1984. >> social security has nothingto to do with the deficit. social security is totally funded by the payroll tax levied on employer and employee. if you reduce the outgo of social security, that money would not go into the general fund to reduce a deficit. it would go into the social security trust fund. so social security has nothing to do with balancing a budget or erasing or lowering the deficit. >> ronald reagan's debate with walter mondale in 1984. >> i call it selective fawning. they love to quote ronald reagan but when he says something sensible, they disassociate. he is absolutely correct. one of the things the boehner proposal does is reduces social security benefits so if you are making a billion dollars, you get your tax cut but if you are an 85-year-old social security recipient, you get a social security cut. how is that fair? >> if only they would listen to ronald reagan and raise taxes when necessary and get their grum -- grimey hands off social security, we would all be better off. congressman steve israel, you are doing a grea
this will congressman goes back to 1984. >> social security has nothingto to do with the deficit. social security is totally funded by the payroll tax levied on employer and employee. if you reduce the outgo of social security, that money would not go into the general fund to reduce a deficit. it would go into the social security trust fund. so social security has nothing to do with balancing a budget or erasing or lowering the deficit. >> ronald reagan's debate with walter mondale...
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they have been able to reduce the deficits. tax increases have been able to stick around for a while. may be a democrat will pass a tax increase and then 15 years later a republican will cut it again. host: rachel in texas. caller: hello. i have two questions to ask. the expense it cost them to move overseas? can that be used as a deductible? our representatives are part of the 47%. what does that cost the taxpayers in taxes? what part of our taxes is paid in their insurance? guest: the answer to the first businessess that this are supposed to deduct all other expenses and that could include closing down a factory and opening up a factory overseas. it will include anything. so democrats have proposed a little change to the tax law which would prevent companies from being able to do that but it would raise that much money, unfortunately. i'm sorry about the other question about health insurance for lawmakers. host: thomas in winter park, florida. caller: good morning. thank you for taking my call. the current tax code is a desce
they have been able to reduce the deficits. tax increases have been able to stick around for a while. may be a democrat will pass a tax increase and then 15 years later a republican will cut it again. host: rachel in texas. caller: hello. i have two questions to ask. the expense it cost them to move overseas? can that be used as a deductible? our representatives are part of the 47%. what does that cost the taxpayers in taxes? what part of our taxes is paid in their insurance? guest: the answer...
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republicans lashing out at speaker boehner over his deficit reduction plan. are lawmakers really going to let us go over the cliff? and a gruesome photo sparking outrage. should "the new york post" have put up this picture of a man moments before he was crushed to death by a subway train. it with you on the cover. we're hearing from t
republicans lashing out at speaker boehner over his deficit reduction plan. are lawmakers really going to let us go over the cliff? and a gruesome photo sparking outrage. should "the new york post" have put up this picture of a man moments before he was crushed to death by a subway train. it with you on the cover. we're hearing from t
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of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted president mitt romney. they spent through the roof to get president mitt romney and they lost. they did not get a president romney. they still have a president obama. but now they're at the president obama white house almost every week meeting with president obama. and i unde t a i underst what ab the f all this face time with president. does t i we're tol elizabe mas sea committ them on board with his agenda, particularly for his side of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be b
of the negotiations with congressional republicans over the bush tax cuts and the stimulus and the deficit. this president seems to have a thick skin if letting bygones be bygones does not come naturally to him as a man, he is doing a convincing job as a president. getting the business community to be message multipliers and supporters of his on basic economic issues. it makes sense. what about accountability? and here's what i mean. the big business guys who really, really really wanted...
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the only thing bigger than the budget deficit is the trust deficit in washington. christine romans, cnn, new york. >>> developing now, nato allies say they have grave concerns that syria's government could be preparing to do precisely what so many have been fearing, unleash the chemical weaponry on its own people. president obama issuing a stern warning after intelligence reports suggest that president bashar al assad's regime is mixing these chemicals to make the deadly, deadly gas called sarin. >> today i want to make it absolutely clear to assad and those under his command, the world is watching. the use of chemical weapons is and would be totally unacceptable. and if you make the tragic mistake of using these weapons, there will be consequences and you will be held accountable. >> former british prime minister tony blair echoing the concerns earlier today on cnn. >> there are a lot of people dying. now the death toll probably would be around 40,000 since this began, since a large number of people. but if there was any sense at all that assad was going to use ch
the only thing bigger than the budget deficit is the trust deficit in washington. christine romans, cnn, new york. >>> developing now, nato allies say they have grave concerns that syria's government could be preparing to do precisely what so many have been fearing, unleash the chemical weaponry on its own people. president obama issuing a stern warning after intelligence reports suggest that president bashar al assad's regime is mixing these chemicals to make the deadly, deadly gas...
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we reached those massive deficits, the largest deficits in american history. and we begin to bring those back down. enter 2007. 2007, 2008 we had a republican president in the white house, we had a democratic speaker here in the u.s. house, spending began to tick back up. and as we entered the obama years, mr. speaker, here is the largest deficit in american history recorded during the bush administration, this is the annual deficit recorded in the obama administration. not twice as large than the largest deficit in american history. not three times as large as the largest deficit in american history. but almost four times larger than the previous largest annual deficit in american history was the first year deficit recorded in the obama administration. we tip, that was the first time ever we run trillion dollar deficits, we continue to run trillion dollar deficits throughout that time. tax policy hasn't changed during that time. tax policy is exactly the same. you hear in the newspaper all the time, mr. speaker, the bush tax cuts. i don't know that that has m
we reached those massive deficits, the largest deficits in american history. and we begin to bring those back down. enter 2007. 2007, 2008 we had a republican president in the white house, we had a democratic speaker here in the u.s. house, spending began to tick back up. and as we entered the obama years, mr. speaker, here is the largest deficit in american history recorded during the bush administration, this is the annual deficit recorded in the obama administration. not twice as large than...
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right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of that tax increase. >> what about what bill clinton said? he said once things start to get better, and that's a crucial point he was making. he wasn't saying doing it right away. once it gets better, taxes go up on the middle class. do you agree with that? >> i don't, actually. the reason being is that right now if you look at the real math on it, in 2007 and 2012 we have the same amount of revenue. obviously 2008 and '09 we had a dramatic drop in federal revenues coming in. we've slowly climbed back up. revenue has gone up every single year in the obama administration, and now we're at historic highs. the difference is our spending in
right now with fourth year in a row with over a trillion dollars in deficit spending, that deficit and debt continues it to climb. it doesn't wipe it out. what does it do to the overall economy. we're not just dealing with one tax increase right now. the affordable care act actually begin on january 1st as well for people making $200,000 or more or people with large medical bills. that already starts coming up. this is an additional tax increase on top of that tax increase. >> what about...